Property Management
When an Oklahoma property manager prepares an annual operating budget for a rental property, they should include:
AOnly mortgage payments
BAll expected revenues (rents, fees) and all anticipated expenses (maintenance, taxes, insurance, management fees, utilities, reserves for replacement)✓ Correct
COnly expenses that occurred last year
DBudget preparation is not part of property management
Explanation
A comprehensive operating budget forecasts all income and expenses to help the owner make informed decisions and maintain adequate cash flow. It should include projected vacancies, maintenance costs, capital reserves, taxes, insurance, and all other anticipated expenses.
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